Yemen’s Houthis said they would allow international ships to transit the Red Sea if the ceasefire between Israel and Hamas holds. However, Israeli-owned and flagged vessels will remain targets, and the group further warned that if military actions by the U.S., UK, or Israel continued, it would resume attacks on U.S./UK vessels.
Since November 2023, the Houthis have targeted over 100 merchant ships in the Red Sea and Gulf of Aden in support of Hamas. These attacks caused significant rerouting for ships traveling between Asia and Europe. The group has said their campaign will continue until Israeli forces leave Gaza.
Meanwhile, containerlines remain hesitant to return to the Red Sea. S&P Global Market Intelligence reported that a reopening of the Suez Canal could restore 6 – 8% of container shipping capacity.
Shipbroker Braemar has predicted Red Sea shipping to return gradually, with other shipping sectors testing the waters before container lines follow. “At this stage, no immediate route changes are expected, as liner operators are likely to fully evaluate safety and risk concerns. It’s anticipated that other shipping segments may take the lead in addressing these issues before any significant actions are seen in the liner market,” the Braemar analysis suggested.
Source: splash247.com
